Commercial real estate’s unusually long run of success over the past decade left many in the industry guessing when and how the cycle would end. Recessions aren’t inevitable, but nobody working in the industry today had ever before gone a decade without having to deal with a major downturn.
All the guessing about the next recession is now over. The fact that nobody had the “global pandemic” box filled in their recession bingo card is of no consequence. The economic effects of COVID-19 have been transmitted to the entire population, even as many states enact social distancing measures to avoid spreading the virus.
Read more...At Long Last, the Cycle Ends. What’s Next? via CPExecutive